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Clearly introduce today's most important tax concepts and ever-changing tax legislation with SOUTH-WESTERN FEDERAL TAXATION 2018: ESSENTIALS OF TAXATION: INDIVIDUALS AND BUSINESS ENTITIES, 21E. Using unmatched clarity and a time-tested presentation, this book offers today’s most effective solution for helping students grasp taxation concepts and applications -- all in a brief edition. This edition reflects the latest tax legislation for individual taxpayers at the time of publication. Proven learning features, such as "Big Picture" examples, memorable tax scenarios and "What If?" case variations, help clarify concepts while sharpening students' critical-thinking, writing skills, and online research skills. In addition to complete instructor support, each new book includes access to H&R Block® software, Checkpoint® by Thomson Reuters (student edition), CengageNOWv2™ and MindTap® Reader. Trust this edition for today’s most effective tax coverage to guide your students.
- CENGAGENOWV2™ ADAPTIVE STUDY PLAN CUSTOMIZES LEARNING TO EACH STUDENT'S UNIQUE NEEDS. This Adaptive Study Plan is an assignable and gradable study center that adapts to each of your student's unique needs. This helpful remediation pathway keeps students progressing.
- NEW MINI TAX RETURN PROBLEMS PROVIDE ADDITIONAL PRACTICE IN CENGAGENOWV2™. With even more practice opportunities and independent study resources than ever before, this edition's wealth of CengageNOWv2™ online resources helps ensure that your students have the practice and learning tools they need to succeed.
- PRACTICAL TAX SCENARIOS BEGIN AND CONCLUDE EACH CHAPTER. The "Big Picture: Tax Solutions for the Real World" examines the lives, careers and tax situations of typical individual filers. Each Big Picture case asks students to develop the best tax solution for these real-life dilemmas. Four examples in the chapter relate to the "Big Picture" tax situation. In addition, end-of-chapter "Refocus on the Big Picture" summaries and tax planning scenarios apply chapter concepts to professional solutions. A "What If?" section demonstrates how tax treatments can vary as the filer's situation changes.
- BRIDGE DISCIPLINE AND "DIGGING DEEPER" FEATURES CHALLENGE STUDENTS TO FURTHER THEIR KNOWLEDGE OF TAXATION. Bridge Discipline Boxes highlight other disciplines and help bridge the gap between taxation issues and issues raised in other business courses. End-of-chapter Bridge Discipline Questions let students apply concepts they have learned in the Bridge Discipline boxes. "Digging Deeper" features help students further explore their knowledge of certain topics. Links in the text provide in-depth coverage and correspond with the book's website at www.cengagebrain.com.
- PROVEN LEARNING FEATURES HELP STUDENTS DEVELOP PROFESSIONAL SKILLS. "Ethics and Equity" features spark critical thinking and discussion as students evaluate their own value systems while reviewing ethical scenarios. A separate section in most chapters details how to apply the tax law to reach taxpayer's goals. Tax planning applications also appear throughout each chapter. "Global Tax Issues" highlight how international concerns impact taxation and illustrate tax laws in use across the globe. In addition, students develop decision-making and analytical skills with Decision-Making Problems.
- END-OF-CHAPTER COMPUTATIONAL EXERCISES PROVIDE ESSENTIAL PRACTICE. Students gain critical hands-on experience and practice with Computational Exercises in most chapters. These exercises directly reinforce the chapter's Learning Objectives.
- CENGAGENOWV2™ OPTIMIZES STUDENT LEARNING AND PRODUCES DESIRED OUTCOMES. CengageNOWv2™ is a powerful course management system and online learning tool that provides control and customization for your course. CengageNOWv2™ includes end-of-chapter homework from the text, "What If" versions of problems, algorithm problems, detailed feedback, test bank questions, a student-personalized study plan, and superior tagging to create an effective learning environment.
- END-OF-CHAPTER ROGER CPA REVIEW QUESTIONS FOR SELECTED CHAPTERS PREPARE STUDENTS FOR SUCCESS. Students review key taxation concepts using questions from the Roger CPA Review -- one of the industry's most effective tools to prepare for today’s CPA Exam.
- The 2018 Tax Media Pack includes a 1 term (6 months) printed access card for RIA Checkpoint and a printed access card for H&R Block Premium & Business, Filing Year 2016. Checkpoint is a leading Tax research tool used by top U.S. CPA firms. It integrates comprehensive, authoritative content from experts, well-known third-party content, primary source materials, news, online learning, and more—allowing you to do your research in one place. H&R Block features basic and complex problems that allow students to prepare returns for individuals, C and S corporations, partnerships, estates, and trusts.
1. Introduction to Taxation.
2. Working with the Tax Law.
3. Taxes on the Financial Statements.
PART II: STRUCTURE OF THE FEDERAL INCOME TAX.
4. Gross Income.
5. Business Deductions.
6. Losses and Loss Limitations.
PART III: PROPERTY TRANSACTIONS.
7. Property Transactions: Basis, Gain and Loss, and Nontaxable Exchanges.
8. Property Transactions: Capital Gains and Losses, Section 1231, and Recapture Provisions.
PART IV: TAXATION OF INDIVIDUALS.
9. Individuals as the Taxpayer.
10. Individuals: Income, Deductions, and Credits.
11. Individuals as Employees and Proprietors.
PART V: BUSINESS ENTITIES.
12. Corporations: Organization, Capital Structure, and Operating Rules.
13. Corporations: Earnings & Profits and Distributions.
14. Partnerships and Limited Liability Entities.
15. S Corporations.
PART VI: SPECIAL BUSINESS TOPICS.
16. Multijurisdictional Taxation.
17. Business Tax Credits and Corporate Alternative Minimum Tax.
18. Comparative Forms of Doing Business.
Appendix A: Tax Rate Schedules and Tables.
Appendix B: Tax Forms.
Appendix C: Glossary.
Appendix D: Table of Code Sections Cited, Table of Regulations Cited, and Revenue Rulings Cited.
Appendix E: Table of Cases Cited.
Appendix F: Present Value and Future Value Tables.
Appendix G: Tax Formulas.